How to make money with NFT-based games – Is it possible

How to make money with NFT-based games - Is it possible 1
Make money with NFT-based games

It can be hard to believe that we can make money just by playing games right out of the bed. Thanks to the consistently growing technology, we often get such opportunities to make some extra cash. Not to mention the cryptocurrency industry is developing new ways to keep up with the latest trends in the market.

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Disclosure: This is a guest post and the author’s views here do not necessarily reflect those of the blog owner.

It goes without saying that the world of NFTs runs on cryptocurrencies and blockchain technology. While offering some promising options for people to start investing.

But what if you don’t have any investment at all? Is it still possible to make money by just playing games? It was not possible to do so a few years earlier, but after the NFT hype, there are endless possibilities!

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What is an NFT-based game?

NFT-based games are very similar to the standard games we see on the internet today. Relax in case you don’t know what NonFungibleTokens really are. NFT-based games combine programming with explicit blockchain innovation.

The game is broadcast via blockchains such as Polygon and Binance smart chain, in order to record every single transaction that takes place on the platform.

Non-fungible token-based games are deployed on certain blockchain technologies. Allowing the entire source code to work efficiently while residing on the blockchain. As the games are based on NFTs, the in-game items hold a unique value for each player. Not to mention these items sell at tremendous prices in case they are very hard to find.

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Growing popularity of NFT games

No wonder playing games on Xbox or Playstation is always fun but the gaming industry is not limited to them. NFT-based games are creating a strong impression among passionate gamers worldwide.

Not to mention individuals are now making millions of dollars by investing resources in NFTs for popular games like Decentrland. Therefore, it is essential to understand how NFT games work before depositing funds.

All NFT games are special in their own way. It includes various highlights, opportunities for continuous interaction, in-game money forms, and player requirements around the world. Providing a wide range of gameplays combined with the concept of NFTs.

You may have already come across some popular NFT games such as Axie Infinity. Surprisingly these games were capable to turn into a billion-dollar industry within a single year. Hence, we can assume that these games are the future of the gaming economy.

See also how to watch Netflix with a VPN.

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How to make money with NFT games?

Now you have ample knowledge about what NFT based games actually are and how they work. Let’s go through some common methods that you can use to make money with any NFT game as long as it supports the mentioned method.

We recommend going through the whitepaper and any available document before investing your money in any type of NFT based game. So you can have a basic idea of whether the project is legitimate or not.

1. Yield Staking

Staking and earning is a very popular method to make money with crypto. Not to mention it is a method that requires an initial investment. However, the investment will pay you more interest than any other bank does at the moment. Because the staking is usually done in pairs of native game tokens + popular currency(AXS/BNB).

You can use platforms like Sushiswap and Uniswap for finding these tokens and purchasing them at a fair price. So buying the in-game currency in the early stages and staking it later to enjoy a higher APY is an effective way to make money with NFT games.

2. Play To Earn

The easiest method to make money from NFT based games is to simply play and earn the in-game currency. The native tokens respective for each game are in form of cryptocurrencies that you can buy, sell, and trade for real money.

Not to mention each token works with a specific blockchain only which means you may have to configure your wallet according to it. Hence, playing NFT games and earning free crypto can help you make some profit for sure. In addition, you can hold the earned crypto for selling them later at a higher price.

For instance, you can start earning with games like Bloktopia, SandBox, Metalands, and Herofi. However, some of them will require you to own an NFT to play the game.

3. Trading NFTs

The majority of NFT game projects provide the facility of trading different in-game items. These in-game items come in different forms, which include clothes, weapons, pets, lands, real estate, vehicles, characters, and many more.

If you were able to get your hands down on a rare item in the launching phase, there is a high possibility that you can make a decent profit out of it. Especially if you are an old player of the game, you can sell the NFT items at a much higher price to newcomers on the NFT marketplace.

4. In-Game Farming

This method of making money from NFT gams is game-specific. Due to the fact that not all games are made in the same way. Thankfully the games that provide the feature of farming can help you make money by doing nothing.

However, you will need to monitor the progress and complete the daily tasks in order to continue your farming process. Chumbi Valley is a live example of an NFT game that offers in-game farming. You can find a lot of NFT games on the internet that offers in-game farming.

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Conclusion

A lot of NFT based games are entering the market lately. Each offering a completely new concept that gamers can explore, selecting the right game to play can become confusing at times. So it comes down to your personal preference, which genres you will love to play and earn at the same time.

Unlike the normal games we play, NFT games do not rely on the server as they are linked with blockchains. Allowing its players to enjoy the benefits from certain blockchains, NFT games are rather more efficient.

Therefore, making money with them is quite easy if you are willing to spend enough time and effort both. Do share this information with your friends and feel free to ask questions in the comments section below.

This is a guest post by Timose.

Timose is a tech geek who blogs at Coinotica, with expertise in digital marketing and the cryptocurrency market. He loves to share information related to cryptocurrency and other useful guides as well. While helping others to solve common technical problems and providing proven methods to make money online.

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